Largan Precision, MediaTek Surge; Taiwan Stocks Rally Nearly 1,000 Points, Reclaim 44,000 Mark

(Central News Agency, reporter He Xiuling, Taipei, 9th) Driven by a rebound in US tech stocks, Taiwan's stock market opened higher and continued to climb on the 9th, surging over 1,000 points during the morning session to reclaim the 44,000-point mark. Large-cap weighted stocks led the gains, with Largan Precision hitting the daily price limit, MediaTek briefly hitting the daily limit, Delta Electronics rising over 6%, and TSMC and Hon Hai also moving higher.

As of 10:46 AM, the TAIEX stood at 44,483.58 points, up 980.8 points or 2.25%, with turnover value approximately NT$698.124 billion.

Among large-cap stocks in the morning session, Hon Hai rose NT$1.5 to NT$271, MediaTek rose NT$365 to NT$4,435, and Delta Electronics rose NT$155 to NT$2,410.

The electronics sub-index rose 2.09%, and the financial sub-index rose 5.13%. The over-the-counter (OTC) index, representing small and mid-cap stocks, rose 2.33%.

Optical lens manufacturers performed strongly today, with Yujing Precision, Largan Precision, and Shian Yih hitting their daily price limits.

CPO (Co-Packaged Optics) concept stocks also rebounded, with LandMark Optoelectronics hitting the daily limit at NT$507, Sysgration rising over 8%, PCL Technologies rising nearly 7%, and MPI Corporation rising over 5%.

Senior securities analyst Jian Boyi said that benefiting from the sharp rise in the Philadelphia Semiconductor Index in the US, Taiwan stocks continued their rebound today. However, trading volume has not significantly increased, indicating cautious market sentiment for chasing prices. While the index left a long black candlestick yesterday, today's rebound has recovered some of the losses. However, the 5-day and 10-day moving averages have turned downward, suggesting the short-term rebound still faces technical selling pressure. (Editor: Zhang Junmao) 1150609